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Sound Energy acquires 25% interest in Sidi Moktar licences


Published Jan 15, 2016
Sound Oil-2

Sound Energy has entered into a binding agreement with Maghreb Petroleum Exploration S.A. for the purchase of MPE's 25% working interest in three onshore gas permits located in Morocco.

The Sidi Moktar Licences cover 2,700 square kilometres in the Essaouira basin, central Morocco and contain a material existing gas discovery in the Lower Liassic. Two wells have already been drilled at Kechoula and a near term extended well test is awaited prior to expected commercial production.

Kechoula is close to existing infrastructure and has been estimated to have an unrisked mid case GOIP of 293 Bscf (100% working interest).

Tags: Sound Energy




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